Bitcoin (BTC) Faces US Selling Pressure as Dollar Strengthens

Bitcoin (BTC) experienced selling pressure from the US market on March 26, leading to a shift in market structure. The price of BTC/USD dropped below $87,000 during the US trading hours, following a positive trend in the Asian session. This downward movement was in line with the lack of momentum seen in US stocks like the SP 500 and Nasdaq Composite Index. The US dollar index (DXY) reached a three-week high of 104.46, showing an inverse correlation with BTC/USD. QCP Capital highlighted the uncertainty surrounding US trade policies and President Trump's upcoming tariff measures, expecting more volatility until there is clarity on these actions. Despite this, QCP suggested that Bitcoin could still perform well in the short term, especially after GameStop's decision to add BTC to its treasury. A positive development in the daily BTC price chart showed a breakout from a descending channel, indicating a shift in market structure. Key indicators like the relative strength index (RSI) and the Hash Ribbon metric are also signaling potential upside movements for Bitcoin. This article does not provide investment advice, and readers are encouraged to conduct their own research before making any decisions.